IRVINE, Calif., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), an alternative energy company, announced that its subsidiary, NDR Energy Group, has signed an agreement with Mt. Dora Florida based New Horizons Energy Group LLC to provide it with natural gas and energy services consulting to create additional revenue streams to increase its profits.
New Horizons Energy Group will provide energy services directly to the Company that were previously being provided by its gas suppliers at significantly higher costs. New Horizons will provide natural gas scheduling, nominations, daily gas monitoring, capacity release for procurement and sales, and pipeline balancing at a much lower cost, resulting in more profit to the Company. Other services provided will include risk management, hedging policy, procurement and management of gas storage assets, and managing operating accounts for designated pipelines. They will help procure natural gas at lower prices by aggregating supplies of independent producers and negotiations of gas purchase contracts.
"We achieved over $20 million in revenue by the end of the third quarter in 2010. However, this major step allows us to be highly profit driven, and potentially create several million in earnings from higher profit margins on the sales of gas. Now, as we procure our gas supplies directly from producers, we'll manage these essential operations, and manage our entire gas portfolio all at a lower cost, through New Horizons, and keep the profit from these services ourselves. We feel this should build greater shareholder value, and give us a greater competitive advantage in the marketplace," says Universal's President Vince Guest.New Horizon Energy Group management has over 40 years of combined experience in natural gas and energy services, which includes natural gas planning, gas supply and pipeline management, power supply planning transactions, natural gas financial and rate analysis, and load and revenue forecasts for Local Gas Distribution Companies (LDC's), commercial companies, and Municipal Utilities.